Bitcoin surges as Fed fears fade 🆙

The price of Bitcoin topped $106,000 Thursday, after the Federal Reserve opted to pause its interest rate cuts.

Author

Stephen Graves
January 30, 2025

📝 What you need to know

Bitcoin bounced back above $106,000 Thursday, amid shifting investor sentiment around the Fed’s decision to pause its interest rate cuts.

During the Federal Open Market Committee meeting, the Fed left its benchmark interest rate unchanged, keeping it within the target range of 4.25% to 4.50%. Lower interest rates typically benefit risk assets like stocks and crypto, with traders remaining cautious but optimistic over Bitcoin’s trajectory.

Elsewhere, Bitcoin was buoyed by news that Illinois has joined a growing list of states exploring the possibility of a Bitcoin reserve as part of their financial strategy, just a day after Arizona advanced a bill allowing public funds and pensions to invest in Bitcoin.

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